Revenues at Sony FS plummet 24%

At Sony’s Financial Services segment – which includes its insurance and banking subsidiaries – year-on-year revenue decreased 24 percent in its third quarter, to reach ¥103.1 billion (€860 million).

During the nine months ending 31 December, ¥383 billion of net cash was provided by financing activities – this is a decrease of ¥45 billion, or 10.5 percent, year-on-year.

As a whole, the segment had a net cash inflow of ¥176.5 billion from operating activities, up 7.6 percent year-on-year. However, an operating loss of ¥37.4 billion was also recorded, largely due to losses experienced at Sony Life, its insurance subsidiary.